MGM Resorts International (NYSE:MGM – Get Rating) had its price target decreased by Deutsche Bank Aktiengesellschaft from $54.00 to $52.00 in a research note released on Friday morning, The Fly reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.
MGM has been the topic of a number of other research reports. Stifel Nicolaus increased their price objective on shares of MGM Resorts International from $53.00 to $55.00 and gave the stock a hold rating in a report on Thursday, February 10th. Morgan Stanley increased their price objective on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an equal weight rating in a report on Thursday, February 10th. Jefferies Financial Group increased their price objective on shares of MGM Resorts International from $57.00 to $59.00 in a report on Friday, January 21st. TheStreet cut shares of MGM Resorts International from a b- rating to a c+ rating in a report on Tuesday, March 8th. Finally, Wells Fargo & Company lowered their target price on shares of MGM Resorts International from $62.00 to $60.00 and set an overweight rating on the stock in a research note on Thursday, February 10th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $55.06.
MGM Resorts International stock opened at $39.51 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.84 and a current ratio of 1.86. MGM Resorts International has a 1 year low of $35.72 and a 1 year high of $51.17. The firm’s 50-day moving average is $42.55 and its 200-day moving average is $43.80. The company has a market cap of $17.20 billion, a P/E ratio of 16.13 and a beta of 2.32.
MGM Resorts International (NYSE:MGM – Get Rating) last released its quarterly earnings data on Wednesday, February 9th. The company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.08. MGM Resorts International had a net margin of 12.96% and a negative return on equity of 2.23%. During the same period in the previous year, the firm posted ($0.90) EPS. As a group, sell-side analysts predict that MGM Resorts International will post 0.35 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Thursday, March 10th were issued a $0.0025 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 9th. MGM Resorts International’s payout ratio is 0.41%.
In related news, Director Alexis Herman sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, February 23rd. The shares were sold at an average price of $43.62, for a total transaction of $141,765.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Meister sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $45.00, for a total transaction of $202,500,000.00. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of MGM. Chilton Capital Management LLC bought a new position in MGM Resorts International during the fourth quarter valued at approximately $25,000. Moors & Cabot Inc. raised its position in MGM Resorts International by 62.3% during the third quarter. Moors & Cabot Inc. now owns 25,000 shares of the company’s stock valued at $27,000 after acquiring an additional 9,599 shares in the last quarter. UMB Bank N A MO bought a new position in MGM Resorts International during the fourth quarter valued at approximately $29,000. Creative Financial Designs Inc. ADV raised its position in MGM Resorts International by 60.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 800 shares of the company’s stock valued at $36,000 after acquiring an additional 300 shares in the last quarter. Finally, Tobam bought a new position in MGM Resorts International during the fourth quarter valued at approximately $43,000. 64.50% of the stock is currently owned by hedge funds and other institutional investors.
About MGM Resorts International (Get Rating)
MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China.
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